Preet Bharara has a difficult decision. Late last week the full Second Circuit Court of Appeals rejected his request for an en banc rehearing of his defeat on insider-trading cases, so the U.S. Attorney now has two choices. He can cut his losses and accept that more of his unjust prosecutions will be overturned. Or he can appeal to the Supreme Court, which could result in an even more consequential defeat for his elastic theory of what constitutes criminal trading.
via Another Preet Defeat – WSJ.
